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Publication Detailed Description
Scientific journal paper
Q1
Banking digitalization: (re)thinking strategies and trends using problem structuring methods
Journal Title
IEEE Transactions on Engineering Management
Year (definitive publication)
2022
Language
English
Country
United States of America
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Abstract
Digital transformation is becoming more common in an increasingly digital world, which has contributed to significant changes in business processes around the globe. In the banking industry, this approach allows banking institutions to provide improved customer experiences. However, the determinants of successful banking digitalization are still unclear, as are their cause-and-effect relationships. This article sought to apply problem structuring methods, namely, fuzzy cognitive mapping and system dynamics, to develop a conceptual model that can be applied to analyses of banking industry digitalization. The results are based on two group sessions that were held with a panel of decision makers who deal with banking digitalization processes on a daily basis. The findings were validated by a senior staff member responsible for banking project assessment and development at Caixa Geral de Depósitos S.A. — a Portuguese state-owned banking corporation. The approach adopted in this article is unique because digitalization determinants were collected and analyzed based on the participants’ know-how and experience. Static and dynamic analyses produced a deeper, broader understanding of the dynamic cause-and-effect relationships between the identified determinants of banking digitalization, giving rise to a realistic model that can be used to support relevant decision-making processes.
Acknowledgements
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Keywords
Banking digitization,Digital transformation,Fuzzy cognitive mapping,Problem structuring methods,System dynamics
Fields of Science and Technology Classification
- Economics and Business - Social Sciences
Contributions to the Sustainable Development Goals of the United Nations
With the objective to increase the research activity directed towards the achievement of the United Nations 2030 Sustainable Development Goals, the possibility of associating scientific publications with the Sustainable Development Goals is now available in Ciência-IUL. These are the Sustainable Development Goals identified by the author(s) for this publication. For more detailed information on the Sustainable Development Goals, click here.